Insights From Our Annual B2B Sales and Marketing Data Report
During these unprecedented times we now find ourselves in, we’re all striving to keep up with “business as usual” while navigating through uncharted waters. We just published our 7th Annual B2B Sales and Marketing Data Report. This report shares some good news (which we could all undoubtedly use) and areas of opportunity that apply in any business climate, especially one in which we, in sales and marketing, need to pull out all the stops.
Here’s the good news: When we surveyed 500 B2B sales and marketing decision-makers in the US, UK, and Canada, we found that the overwhelming majority of B2B organizations of all sizes have widely acknowledged that data quality is important. And 73% of respondents reported that they’ve increased their investment in data quality. That’s great news – we’ve been preaching investment in data quality for a very long time, but seven years of studies show this wasn’t always the case.
What’s the opportunity?: Although there was near-universal agreement about the value of quality data, the majority of organizations surveyed still haven’t connected the value of that data – the data they’ve invested in – to sophisticated activation approaches. The desire to improve sales and marketing performance isn’t being reflected in the implementation of effective strategies and tactics necessary to obtain those gains.
It’s like spending money on a sports car but never driving more than 30 mph (or 48 kph): What’s the point?
Here’s the reality: Companies that aren’t making relevant, quality data the solid foundation on which to build advanced activation approaches are leaving money on the table. You’ll see results only when you create a solid quality data foundation and understand how to leverage it to support sophisticated sales and marketing strategies.
Data in a Changed World
When we started our annual survey seven years ago, we thought that business was changing rapidly – almost overnight. But in the past few weeks, business HAS actually changed overnight. The new normal is that there isn’t a normal. Your activation strategy really matters, and it needs to be supported with quality data. Whether in times of stability or times of uncertainty, B2B sales and marketing organizations need to adapt quickly and connect with clients and prospects in new, innovative ways. If your company is part of the small percentage that’s made the connection and is leveraging its quality data in new, strategic ways, keep up the good work. But if you’re lagging behind, it’s time to get moving. And if you’re somewhere in between, continue your initiatives until you can reap the benefits of a solid foundation of quality data to drive advanced activations. Read the report and suggestions for activating data in any economic climate.